Refer to Michelle's. What is the ending balance of Finished Goods Inventory?
A) $0
B) $15,000
C) $23,321
D) $64,321

Name: Refer to Michelle's. What is the ending balance of Finished Goods Inventory? A) $0 B) $15,000 C) $23,321 D) $64,321
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Question

Quizplus · Accepted Answer

The ending balance of Finished Goods Inventory is found by taking the beginning balance of $15,000, adding the cost of goods manufactured of $97,500, and then subtracting the cost of goods sold of $89,179. This results in an ending balance of $23,321.